Idenix Pharmaceuticals (IDIX)

[DewDiligence]

Idenix Names Ronald C. Renaud, Jr. as CFO

[The new CFO seems to have decent credentials. Given that IDIX is a majority-owned subsidiary of NVS and it does not need to raise capital, the CFO position at IDIX is probably not the most exciting one out there.]

http://biz.yahoo.com/prnews/070618/nem037.html?.v=10

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Monday June 18, 9:06 am ET

CAMBRIDGE, Mass., June 18 /PRNewswire-FirstCall/ -- Idenix Pharmaceuticals, Inc. (Nasdaq: IDIX ) today announced the appointment of Ronald C. Renaud, Jr. to the position of chief financial officer. Mr. Renaud most recently served as chief financial officer of Keryx Biopharmaceuticals, a publicly traded life sciences company focused on the development and commercialization of drug candidates to treat life-threatening diseases such as diabetes and cancer. Prior to his position at Keryx, he spent several years as a senior biotechnology equity analyst for leading investment banks. At Idenix, Mr. Renaud will be responsible for all finance, treasury and investor relations functions. Mr. Renaud will join Idenix on June 29, 2007.

"Ron brings a unique mix of skills to the role of chief financial officer," said Jean-Pierre Sommadossi, Ph.D., chief executive officer of Idenix. "His significant experience in finance, both at public biotechnology companies and on Wall Street, coupled with his science background will be a valuable addition to the Idenix management team."

As senior vice president, chief financial officer and treasurer of Keryx, Mr. Renaud led the finance and investor relations functions. He was responsible for the strategic planning and development of the finance function to support the company's growth and its late-stage product candidate development. Prior to joining Keryx, Mr. Renaud spent five years as a sell- side equity analyst leading coverage of the biotechnology sector at Bear Stearns, Schwab SoundView and JP Morgan. Additional industry experience includes Mr. Renaud's more than 5 years at Amgen Inc., where he held positions in clinical research, investor relations and finance. He holds a Masters in Business Administration from the Marshall School of Business at the University of Southern California and a Bachelor of Arts from St. Anselm College in Manchester, NH.
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